Issues arising in the corporate insolvency resolution process under the Insolvency and Bankruptcy Code, 2016, are being resolved by decisions of the National Company Law Tribunal (NCLT) and the National Company Law Appellate Tribunal (NCLAT), which are vested with the powers of adjudicating authority under the code, as well as by the Supreme Court. Aditya…
REI Agro, a firm that claims to have a 22 per cent share in the worlds basmati rice market, has gone in for liquidation after the National Company Law Tribunal (NCLT) ordered it to do so. Sources in the know of the matter said the makers of India Gate basmati rice, the…
CHRIS HUTCHING/STUFF Steel construction became more popular after the 2011 earthquakes in Christchurch. The main secured creditor of Christchurch-based Challenge Steel which went bust last year has been repaid $6727 – but further significant recovery of the total $10 million debt is unlikely. About $6m of the $10m was owed to 40 unsecured creditors which included suppliers and sub contractors.…